The Minister for Trade, Elizabeth Ofosu-Adjare, has stated that Ghana’s Sentuo Oil Refinery project is expected to attract significant investments in petrochemical, fertiliser, and plastics manufacturing as part of efforts to deepen the country’s value-added production capacity.

According to her, the Oil Refinery expansion will provide the necessary energy and industrial security to attract major downstream players in key sectors.

“This refinery gives us the security to attract petrochemical manufacturers, fertiliser blenders, and plastics processors, not as energy producers, but as export-oriented manufacturing investments under our accelerated export development programme,” she explained.

She made the remarks during the commissioning of Phase II of the Sentuo Oil Refinery on Thursday, June 25, where she highlighted growing international investor confidence in Ghana’s economic and industrial environment.

According to Madam Ofosu-Adjare, recent engagements with prospective investors from Morocco, China, the United Kingdom and other countries have revealed a deepening and genuine interest in Ghana’s business climate.

She noted that this growing interest has already translated into concrete investment commitments, adding that “It is no surprise then that companies such as Sentuo have moved from interest to action, committing additional investments in the second phase of this project,” she stated.

The Minister described the development as part of a broader partnership aimed at transforming Ghana’s economy from one heavily reliant on raw material exports to one focused on industrial production and value addition.

“This is a partnership built on shared ambitions to see Ghana move beyond raw materials into the commanding heights of industrial production,” she added.

She further disclosed that her ministry has been actively engaging investors to establish downstream industries that will expand Ghana’s manufacturing base and strengthen its industrial ecosystem.

The Trade Minister also commended President John Mahama for what she described as his role in strengthening investor confidence and promoting industrial development policies that support private sector participation.

She said the government remains committed to supporting strategic investments that enhance Ghana’s capacity to produce semi-finished and finished goods for both domestic consumption and export.